Compute the future value of $1,000 compounded annually for 10 years at 4 percent

Question

Compute the future value of $1,000 compounded annually for 10 years at 4 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Future value

Compute the future value of $1,000 compounded annually for 10 years at 10 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Future value

Compute the future value of $1,000 compounded annually for 15 years at 4 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Future value

Explanation / Answer

FV = PV * (1 + r)^n

1. FV = 1000 * (1 + 0.04)^10 = 1480.244

2. FV = 1000 * (1+ 0.1)^10 = 2593.742

3.  FV = 1000 * (1+ 0.04)^15 = 1800.944

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